Red White & Bloom Brands Reports Fiscal 2024 Financial Results

Core Viewpoint - Red White & Bloom Brands Inc. has filed its consolidated audited financial statements for the year ended December 31, 2024, and is working to finalize its interim financial statements for Q1 2025 after a delay that resulted in a cease trade order [1][2][3]. Financial Performance - For Q4 2024, revenues were $18.7 million, an increase of $2.8 million compared to Q4 2023 revenues of $15.9 million [8]. - Gross profit for Q4 2024 was $5.4 million, a decrease of $5.1 million from Q4 2023 gross profit of $10.6 million [8]. - Operating expenses for Q4 2024 totaled $9.1 million, a decrease of $3.7 million compared to Q4 2023 operating expenses of $12.8 million [8]. - EBITDA for Q4 2024 was $6.3 million, an increase of $97.6 million compared to the negative adjusted EBITDA of $91.3 million in Q4 2023, which included $94.6 million in non-cash impairments [8]. - For the fiscal year 2024, revenues were $80.2 million, reflecting a $10.6 million increase compared to $69.6 million in 2023 [8]. - Gross profit for the fiscal year 2024 was $28.4 million, an increase of $3.4 million from $25.0 million in 2023 [8]. - Operating expenses for the fiscal year 2024 were $40.4 million, an increase of $9.4 million compared to $31.0 million in 2023 [8]. - EBITDA for the fiscal year 2024 was $10.8 million, a net increase of $99.76 million compared to the negative adjusted EBITDA of $89.0 million in 2023, which also included $94.6 million in non-cash impairments [8]. Company Overview - Red White & Bloom Brands Inc. is a multi-state cannabis operator focusing on major U.S. markets, including California, Florida, Missouri, Michigan, and Ohio, as well as Canadian and international markets [6].